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Karachi, Johnson & Phillips Pakistan Limited has formally submitted an application for voluntary delisting from the Pakistan Stock Exchange (PSX) and seeks approval for the purchase of shares from its minority shareholders. The application, made under regulation 5.14.3 of the PSX Rule Book, outlines the company’s intentions to delist and buy shares back from minority stakeholders.
Key points from the submission:
1. Johnson & Phillips Pakistan Limited, a public limited company listed on the PSX, has its registered office at C-10, South Avenue, S.I.T.E., Karachi.
2. The company’s authorized share capital is PKR 80,000,000 divided into 8,000,000 ordinary shares of PKR 10 each. The paid-up capital stands at PKR 54,499,720, divided into 5,449,972 ordinary shares of PKR 10 each.
3. Majority shareholder Mr. Muhammad Anis Mianoor plans to acquire 545.983 ordinary shares held by minority shareholders at a proposed purchase price of PKR 35 per share. This move is subject to approval by the PSX and compliance with relevant regulations.
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